Huddlestock Fintech

Earnings Release • Feb 10, 2022

Huddlestock Fintech AS (HUDL) : FY 2021 Pro-forma revenues above target.

Huddlestock Fintech AS (HUDL) : FY 2021 Pro-forma revenues above target.

10.2.2022 07:30:01 CET | Huddlestock Fintech AS | Annual financial and audit

reports

Stavanger, Norway, 10 February 2022 - Huddlestock Fintech AS, a provider of

innovative technology solutions to the capital markets, treasury and wealth

management industries, today released its Unaudited Financial Report for the

Fourth Quarter and Full Year 2021.

For the fiscal year 2021, Huddlestock has delivered pro-forma revenues above

target. Pro-forma revenues were NOK 41.5 million, compared to the guidance range

of NOK 38-41 million. Adjusted for non-recurring items, the company delivered a

proforma adjusted EBITDA loss of NOK 4.9 million, in the mid-range of the guided

loss of NOK 3.5-5.5 million.

"In the fourth quarter we saw a significant uptick in client demand for our

technology-first advisory. We are delighted to deliver a fantastic quarter with

a sequential doubling in revenues. Banks and wealth managers continue to invest

in innovation and technology for the future, and we have since the start of 2022

seen continued strong demand for our expert advisors and are pursuing promising

leads across our portfolio of technology solutions. We have also continued to

add a number of talented employees to our group. Starting 2022, we are 40

employees within the group, and are well on our way to build an organisation for

growth, creating sustainable shareholder value," John E. Skajem, CEO Huddlestock

Fintech, said.

Huddlestock's advisory business delivered a strong fourth quarter with revenues

of NOK 13.4 million, more than double revenues in Q3 2021, confirming the

strength of our franchise. The strong momentum within our technology-first

advisory has been driven by repeat multi-year mandates, some of which have been

widened and extended. During the quarter, two new contracts were signed with a

leading Nordic Fintech and a Danish cooperative. A leading Nordic bank extended

and widened our remit, adding more of our expert advisors. Clients are

committing to projects well into 2022 and all our consultants are fully booked

for Q1 2022 and almost all of Q2 2022.

Huddlestock's technology segment delivered revenues of NOK 0.5 million (all

recurring) in the fourth quarter, taking the full year to NOK 2.7 million in

revenues. The reorganisation of our German operations at the end of last year

led to both a change in management and a reassessment of our commercial

portfolio.

"We are now positioning our German subsidiary for growth, preparing to scale and

prioritize profitable contracts. I am happy to report that we have seen a number

of promising client leads emerge across our range of technology solutions since

the beginning of the year," John E. Skajem, CEO Huddlestock Fintech, said.

Huddlestock Fintech's reported revenues for the fourth quarter, in which Visigon

was fully consolidated, was NOK 13.87 million and the EBITDA loss was NOK 0.26

million. The group enjoys a strong balance sheet with 10m own shares held in

treasury.

A presentation will be held at 12.00 CET in Norwegian and at 14.00 in English.

To access the webcast in Norwegian, please connect via this link powered by

Xtrainvestor

https://inqrate.com/xtravideos/huddlestock-hudl-q4-21-presentasjon-10-februar/.

To access the English presentation, please contact Investor Relations -

http://investorrelations@huddlestock.com.

Please find enclosed the Q4 2021 presentation material.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Cecilia Luras, Director of Strategy & IR, +47 951 45 382, col@huddlestock.com

* John E. Skajem, CEO, +47 418 87 412, jes@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock Fintech delivers innovative technology solutions to the capital

markets, treasury and wealth management industries.

Through its technology offering, Huddlestock offers an innovative, compliant,

and data-centric WealthTech SaaS, accelerating the digital transformation, and

trends of hyper-personalization and on-demand banking within the wealth

management industry. Huddlestock's SaaS empowers the embedding of low-cost,

efficient white-label trading and investment services, underpinning

Huddlestock's mission of delivering financial inclusion by democratizing access

to capital markets.

Through its world-class expert professional services business, Huddlestock

delivers strategic technology solutions and process automation for the financial

services industry. This range of services has propelled Huddlestock into

becoming the preferred supplier of financial consultancy services and technology

solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext

Growth Market 26 November 2020, as Norway's first fintech company to be publicly

traded.

For more information, please visit www.huddlestock.com -

http://www.huddlestock.com

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/1174/1557/Download%20announcement

%20as%20PDF.pdf

HSF ir FY2021 press release 10022022.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/1174/1552/HSF%20ir%20FY2021%20pre

ss%20release%2010022022.pdf

HSF ir FY2021 Investor Presentation Final.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/1174/1556/HSF%20ir%20FY2021%20Inv

estor%20Presentation%20Final.pdf